Zacks: Analysts Anticipate First Industrial Realty Trust, Inc. (FR) to Post $0.40 EPS

Equities research analysts forecast that First Industrial Realty Trust, Inc. (NYSE:FR) will announce earnings per share of $0.40 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for First Industrial Realty Trust’s earnings. The highest EPS estimate is $0.41 and the lowest is $0.39. First Industrial Realty Trust posted earnings of $0.20 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 100%. The business is scheduled to announce its next earnings report on Wednesday, February 28th.

On average, analysts expect that First Industrial Realty Trust will report full year earnings of $1.55 per share for the current financial year, with EPS estimates ranging from $1.53 to $1.57. For the next year, analysts expect that the business will post earnings of $1.63 per share, with EPS estimates ranging from $1.61 to $1.66. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow First Industrial Realty Trust.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.25. The firm had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.38 million. First Industrial Realty Trust had a return on equity of 12.90% and a net margin of 44.97%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS.

Several equities research analysts recently issued reports on the company. Janney Montgomery Scott assumed coverage on First Industrial Realty Trust in a research note on Friday, September 29th. They issued a “buy” rating and a $34.00 price objective for the company. ValuEngine raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. BidaskClub raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a research note on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.67.

In other news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total transaction of $519,976.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 50,565 shares of company stock valued at $1,585,718 over the last ninety days. Company insiders own 1.71% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of First Industrial Realty Trust by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock valued at $7,406,000 after acquiring an additional 2,757 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of First Industrial Realty Trust in the 2nd quarter valued at approximately $1,637,000. Legal & General Group Plc raised its stake in shares of First Industrial Realty Trust by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 356,336 shares of the real estate investment trust’s stock valued at $10,197,000 after acquiring an additional 36,713 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of First Industrial Realty Trust by 3.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 740,025 shares of the real estate investment trust’s stock valued at $21,180,000 after acquiring an additional 26,649 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of First Industrial Realty Trust by 10.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,384,869 shares of the real estate investment trust’s stock valued at $39,635,000 after acquiring an additional 128,673 shares in the last quarter. 93.64% of the stock is owned by institutional investors.

Shares of First Industrial Realty Trust (NYSE:FR) traded up $0.09 during trading on Friday, reaching $32.22. The company had a trading volume of 601,472 shares, compared to its average volume of 771,693. The stock has a market cap of $3,850.00, a P/E ratio of 20.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. First Industrial Realty Trust has a 1 year low of $25.31 and a 1 year high of $32.47.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, December 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 78.50%.

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First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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Earnings History and Estimates for First Industrial Realty Trust (NYSE:FR)

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